PAG acquires majority stake in Pravesha Industries

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PAG acquires majority stake in Pravesha Industries

PAG is a private equity group targeting Asia that bought a $200 million stake in Pravesha Industries Pvt. Ltd.

Pravesha Industries deals in manufacturing of pharmaceutical packaging products and has an approximate production capacity of 15000 metric tonnes of plastic bottles closures drums.

While speaking with Nikhil Srivastava, Partner & Managing Director and Head of India Private Equity at PAG, the organisation identified the Indian packaging segment as strategic because of the latter’s double-digit growth potential in the next decade buoyed by domestic manufacturing and a vibrant pharmaceutical exports business.

PAG has been investing in India since 2009 and now has over $3 billion in asset under management across the sectors.

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